DOCSLIB.ORG

1 Exhibit 1 General Motors Company and Subsidiaries Supplemental

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
1 Exhibit 1 General Motors Company and Subsidiaries Supplemental Exhibit 1 General Motors Company and Subsidiaries Supplemental Material (Unaudited) The accompanying tables and charts for securities analysts include earnings (loss) before interest and taxes (EBIT), adjusted EBIT and free cash flow which are not prepared in accordance with Accounting Principles Generally Accepted in the United States of America (U.S. GAAP) and have not been audited or reviewed by GM’s independent auditors. EBIT, adjusted EBIT and free cash flow are considered non-GAAP financial measures. Management believes these non-GAAP financial measures provide meaningful supplemental information regarding GM’s operating results because they exclude amounts that management does not consider part of operating results when assessing and measuring the operational and financial performance of the organization. Management believes these measures allow it to readily view operating trends, perform analytical comparisons, benchmark performance among geographic regions and assess whether GM’s plan to return to profitability is on target. Accordingly, GM believes these non-GAAP financial measures are useful in allowing for greater transparency of GM’s core operations and they are therefore used by management in its financial and operational decision-making. While management believes that these non-GAAP financial measures provide useful information, they are not operating measures under U.S. GAAP and there are limitations associated with their use. GM’s calculation of these non-GAAP financial measures may not be completely comparable to similarly titled measures of other companies due to potential differences between companies in the method of calculation. As a result, the use of these non-GAAP financial measures has limitations and should not be considered in isolation from, or as a substitute for, other measures such as Net income (loss) or Net income (loss) attributable to common stockholders. Due to these limitations, these non-GAAP financial measures are used as a supplement to U.S. GAAP measures. The following table summarizes the reconciliation of EBIT to its most comparable U.S. GAAP measure (dollars in millions): Successor Three Months Three Months July 10, 2009 Ended Ended Through March 31, 2010 December 31, 2009 September 30, 2009 Operating segments GMNA(a) ................................................................................................ $ 1,218 $ (3,443) $ (1,377) GMIO(a) ................................................................................................ 1,194 738 460 GME(a) ................................................................................................ (506) (814) 9 Total operating segments ................................................................................................ 1,906 (3,519) (908) Corporate and eliminations ................................................................................................ (82) (527) 167 EBIT ................................................................................................................................ 1,824 (4,046) (741) Interest income ................................................................................................ 90 75 109 Interest expense ................................................................................................ 337 329 365 Income tax expense (benefit) ................................................................ 509 (861) (139) Net income (loss) attributable to stockholders ................................................................ $ 1,068 $ (3,439) $ (858) __________ (a) Interest and income taxes are recorded centrally in Corporate; therefore, there are no reconciling items for GM’s operating segments between EBIT and Net income (loss) attributable to stockholders. 1 General Motors Company and Subsidiaries Supplemental Material (Unaudited) The following tables summarize the reconciliation of adjusted EBIT to EBIT and free cash flow to Net cash provided by (used in) operating activities (dollars in millions): Successor Three Months Three Months July 10, 2009 Ended Ended Through March 31, 2010 December 31, 2009 September 30, 2009 Adjusted EBIT ..................................................................................... $ 1,701 $ (954) $ (631) Adjustments ......................................................................................... 123 (3,092) (110) EBIT ................................................................................................................................$ 1,824 $ (4,046) $ (741) Free Cash Flow .................................................................................... $ 991 $ (2,919) $ 1,976 Capital expenditures ............................................................................. 755 1,033 881 Net cash provided by (used in) operating activities ........................... $ 1,746 $ (1,886) $ 2,857 In the three months ended March 31, 2010 Adjustments included the following: o Gain of $123 million as a result of the sale of Saab to Spyker Cars NV. In the three months ended December 31, 2009 Adjustments included the following: o Settlement loss of $2.6 billion related to the termination of GM’s UAW hourly retiree medical plan and Mitigation Plan, under which GM agreed that an independent VEBA would be formed to pay certain healthcare costs of UAW hourly retirees and their beneficiaries; o Impairment charge of $270 million related to GM’s investment in GMAC common stock; o Charges of $150 million related to the settlement of existing Delphi obligations upon consummation of the Delphi Master Disposition Agreement and GM’s agreement to fund the wind-down costs of certain Delphi facilities; and o Loss on extinguishment of debt of $101 million related to the repayment of secured long-term debt of $400 million (in connection with the purchase of the remaining noncontrolling interest in CAMI Automotive, Inc.). In the period July 10, 2009 through September 30, 2009 Adjustments included the following: o Charges of $110 million to record reserves against advances to Delphi. 2 General Motors Company and Subsidiaries Supplemental Material (Unaudited) Successor Predecessor Three Months Three Months Ended Ended March 31, 2010 March 31, 2009 Worldwide Production Volume (units in thousands)(a) GMNA – Cars ................................................................................................................................. 244 116 GMNA – Trucks.............................................................................................................................. 424 255 Total GMNA ................................................................................................................................... 668 371 GME ............................................................................................................................................... 357 267 GMIO (b)(c) .................................................................................................................................... 1,060 692 Total Worldwide ............................................................................................................................ 2,085 1,330 __________ (a) Production volume represents the number of vehicles manufactured by GM’s and Old GM’s assembly facilities and also includes vehicles produced by certain joint ventures. (b) Includes Shanghai General Motors Co., Ltd. (SGM), SAIC-GM Wuling Automobile Co., Ltd. (SGMW), FAW-GM Light Duty Commercial Vehicle Co., Ltd. (FAW-GM) and SAIC GM Investment Ltd. (HKJV) joint venture production. (c) Ownership of 34% in SGMW and 50% in FAW-GM, under the joint venture agreements, allows for significant rights as a member as well as the contractual right to report SGMW and FAW-GM production volume in China. These entities are not consolidated for financial reporting purposes. Income and losses related to these entities are recorded in Equity income, net of tax. 3 General Motors Company and Subsidiaries Supplemental Material (Unaudited) Successor Predecessor Three Months Three Months Ended Ended March 31, 2010 March 31, 2009 Vehicle Unit Deliveries (units in thousands)(a)(b)(c) United States Chevrolet – Cars .......................................................................................................................... 156 93 Chevrolet – Trucks ....................................................................................................................... 182 154 Cadillac ....................................................................................................................................... 29 24 Buick ........................................................................................................................................... 32 21 GMC ........................................................................................................................................... 69 54 Other ........................................................................................................................................... 8 67 Total United States ..................................................................................................................... 477 413 Canada, Mexico and Other ........................................................................................................... 86 88 Total GMNA(d) .......................................................................................................................... 563 501 GME Opel/Vauxhall .............................................................................................................................
Load more

Recommended publications
  • Entry Mode Joint Venture & Strategic Alliance
    Larrieux Emma Ricaud Luc Metton Anna Emma Pangaut Erwann Moreaux David ENTRY MODE JOINT VENTURE & STRATEGIC ALLIANCE What is a joint venture ? A joint venture is an association of companies for the purpose of carrying out a joint project. Consequently, the two companies - or more - have the desire to collaborate in order to share their skills, knowledge. In this guide we are going to explain you why companies use joint venture. You will see that this entry mode is used outside of simple skill sharing. It exists three types of joint venture : - The horizontal joint venture : This joint venture regroup companies who has a same activities and similar sector of activity - The vertical joint venture : It’s cooperation between two companies who have a same sector of activities, but who haven’t the same job ( a producteur of partition with recording studio) - The conglomerate joint venture : There isn’t a relation face to a sector between the partner ( a label and provider of internet ) Why companies use Joint Venture ? ● Opportunity to leverage the distinct strengths of both partner organisations ● Cuts investment or funding costs versus developing commercial opportunities in house ● Partner skill set should be complementary, making the value of the JV greater than the sum of its parts, as well as ● providing quick and low cost access to expertise in an area where you are weak ● Reduces downside risk should partnership not deliver the expected/ hoped for returns ● Increased power over the activities and principles guiding the JV's operations and objectives compared to a ● minority interest investment ● Allows a deal to be done when funding might otherwise preclude it, since you can contribute things other than ● cash, such as assets, IP or know-how Some examples : We are going to illustre why companies use joint venture thanks to some concrete examples.
    [Show full text]
  • Groupe Renault and Jmcg Officially Establish a Joint Venture for Electric Vehicles in China
    PRESS RELEASE 2019­07­17 GROUPE RENAULT AND JMCG OFFICIALLY ESTABLISH A JOINT VENTURE FOR ELECTRIC VEHICLES IN CHINA • Groupe Renault will increase its share capital by RMB 1 billion to become a major shareholder of JMEV with a 50% stake. Boulogne­Billancourt, July 17, 2019 – Groupe Renault and Jiangling Motors Corporation Group (JMCG) announced the official establishment of their joint venture to further promote the development of the EV industry in China, following a first agreement on December 20, 2018. Groupe Renault will increase its share capital by RMB 1 billion (about 128.5 million euros) to become a major shareholder of JMEV with a 50% stake. JMEV has already completed business license registration. This cooperation is part of the overall strategy of JMCG and Groupe Renault. Through this joint venture, Groupe Renault will be able to expand its influence in China’s electric vehicle market, while JMCG will be able to integrate and leverage more resources, which will promote its rapid growth in the future. China is a key market for Groupe Renault. This partnership in electric vehicle business with JMCG will support our growth plan in China and our EV capabilities. As a pioneer and leader in the European EV market for 10 years, we will capitalize on our experience in EV R&D, production, sales and services, said Mr. Francois Provost, Senior Vice President, Chairman of China Region, Groupe Renault. Adhering to the concept of openness and cooperation, JMCG is one of the first domestic enterprises to introduce international strategic partners. By partnering with Groupe Renault, JMEV will be able to elevate its comprehensive competitiveness to a new level and penetrate into China’s electric vehicle market, said Mr.
    [Show full text]
  • Volume 2 Comprises Supporting Appendices
    The Automotive Industry Volume II Appendices INDUSTRY COMMISSION Report No. 58 26 May 1997 © Commonwealth of Australia 1997 ISBN 0 642 27159 3 This work is copyright. Apart from any use as permitted under the Copyright Act 1968, the work may be reproduced in whole or in part for study or training purposes, subject to the inclusion of an acknowledgment of the source. Reproduction for commercial usage or sale requires prior written permission from the Australian Government Publishing Service. Requests and inquiries concerning reproduction and rights should be addressed to the Manager, Commonwealth Information Services, AGPS, GPO Box 84, Canberra ACT 2601. Enquiries Industry Commission 35 Collins Street Melbourne 3000 Locked Bag 2 Collins Street East Post Office Melbourne VIC 8003 Forming the Productivity Commission The Industry Commission, the former Bureau of Industry Economics and the Economic Planning Advisory Commission have amalgamated on an administrative basis to prepare for the formation of the Productivity Commission. Legislation formally establishing the new Commission is before Parliament. CONTENTS This report comprises two volumes. Volume 1 contains the Overview and the body of the report. Volume 2 comprises supporting appendices. Page Abbreviations IX Terms of Reference XVI APPENDICES A Conduct of the inquiry A1 A.1 Introduction A1 A.2 Submissions received A1 A.3 Visits A7 A.4 Round table participants A10 A.5 Public hearing participants A12 B The international automotive industry B1 B.1 Introduction B1 B.2 Worldwide vehicle
    [Show full text]
  • 2016 Annual Report
    東風汽車集團股份有限公司 DONGFENG MOTOR GROUP COMPANY LIMITED Stock Code: 489 2016 Annual Report * For identification purposes only Contents Corporate Profile 2 Chairman’s Statement 3 Report of Directors 7 Management Discussion and Analysis 42 Profiles of Directors, Supervisors and Senior Management 51 Report of the Supervisory Committee 59 Corporate Governance Report 61 Independent Auditor’s Report 84 Consolidated Income Statement 91 Consolidated Statement of Comprehensive Income 92 Consolidated Statement of Financial Position 93 Consolidated Statement of Changes in Equity 95 Consolidated Statement of Cash Flows 97 Notes to the Financial Statements 100 Five Year Financial Summary 189 Corporate Information 191 Notice of Annual General Meeting and Relating Information 192 Definitions 208 Corporate Profile Dongfeng Peugeot Citroën Sales Co., Ltd. Dongfeng Peugeot Citroën Auto Finance Co., Ltd. Dongfeng (Wuhan) Engineering Consulting Co., Ltd. Dongfeng Motor Investment (Shanghai) Co., Ltd. Dongfeng Off-road Vehicle Co., Ltd. Dongfeng Motor Co., Ltd. Dongfeng Nissan Auto Finance Co., Ltd. China Dongfeng Motor Industry Import & Export Co., Ltd. Limited Dongfeng Motor Finance Co.,Ltd. Dongfeng Getrag Automobile Transmission Co., Ltd. Dongfeng Renault Automobile Co., Ltd. Dongfeng Liu Zhou Motor Co., Ltd. Dongvo (Hangzhou) Truck Co., Ltd. Honda Motor (China ) Investment Co.,Ltd. Motor Group Company Dongfeng Honda Auto Parts Co., Ltd. ), the predecessor of Dongfeng Motor Corporation and the parent of the the parent of Corporation and of Dongfeng Motor the predecessor ), Dongfeng Honda Engine Co., Ltd. Dongfeng Honda Automobile Co., Ltd. Dongfeng Dongfeng Peugeot Citroën Automobile Co., Ltd. Dongfeng Commercial Vehicle Co., Ltd. Dongfeng Electrical Vehicle Co., Ltd. 第二汽車製造廠 Dongfeng Special Purpose Commercial Vehicle Co., Ltd.
    [Show full text]
  • A Case Study on Ingersoll, Ontario, Canada
    The Effect of Urban Policies and Development Strategies on the Stimulation of Industrial Growth: A Case Study on Ingersoll, Ontario, Canada URBAN DOCUMENT 1 CENTRE RESEARCH UNIT URBAN STUDIE~ M TER UNIVERSITY. HAMILTON, ONTAR IO , . ........ ~ - .. f ~ : •. THE EFFECT OF URBAN POLICIES AND DEVELOPMENT STRATEGIES ON THE STIMULATION OF INDUSTRIAL GROWTH: A CASE STUDY ON INGERSOLL, ONTARIO, CANADA BY Brian G. Joiner Submitted to the McMaster University Geography Department in partial fulfillment of the requirements for the degree Honours Geography McMaster University Hamilton, Ontario April 1988 HONOURS GEOGRAPHY MCMASTER UNIVERSITY 1988 Hamilton, Ontario TITLE: The Effect of Urban Policies and Development Strategies on the Stimulation of Industrial Growth: A Case Study on Ingersoll, Ontario, Canada AUTHOR: Brian G. Joiner SUPERVISOR: Dr. W.A. Anderson NUMBER OF PAGES: vii, 55 ii ABSTRACT Several documents have been presented outlining the methods incorporated by large multinational corporations in their plant location process. These methods contribute to our knowledge of how companies choose a location in which to locate a manufacturing operation. The role of the region or municipality in preparing an appropriate atmosphere to coordinate with an industry's specific requirements has not been widely examined. The objective of this research paper is to examine the role played by the Town of Ingersoll, Township of South-West Oxford and County of Oxford in Southwestern Ontario in preparing a sui table land, infrastructure and zoning regulations package to facilitate the requirement for a joint General Motors and Suzuki automotive assembly plant. The results obtained from this research paper will aid in the awareness of the actions that occur to aid such a large industrial and economic expansions within a small agricultural society.
    [Show full text]
  • The Renault-Nissan Alliance 014 the Renault-Nissan Alliance
    The Renault-Nissan Alliance 014 The Renault-Nissan Alliance Nissan has greatly increased its global footprint and achieved dramatic economies of scale through the Renault-Nissan Alliance, a unique and highly scalable strategic partnership founded in 1999. In 2011, 8.03 million cars* were sold by the Renault-Nissan Alliance, amounting to a 10.7% global share. We are marketing vehicles under the brands of Nissan, Infiniti, Renault, Renault Samsung Motors and Dacia. * This figure includes Lada sales (AvtoVAZ of Russia). The Alliance’s Vision Although it was initially considered a unique arrangement in the late 1990s, the Alliance quickly became a model for similar partnerships in the auto industry. The Alliance itself has entered cooperative relationships with Germany’s Daimler, China’s Dongfeng Motor Corp., Russia’s AvtoVAZ and others, and it continues to prove itself as the industry’s most enduring and successful partnership. The Alliance is based on the rationale that substantial cross-shareholding investments compel each company to act in the financial interest of the other, while maintaining individual brand identities and independent corporate cultures. Renault currently has a 43.4% stake in Nissan, and Nissan holds a 15.0% stake in Renault. The cross-shareholding arrangement requires mutual trust and respect, as well as a transparent management system focused on speed, accountability and performance. ＞ Please see our website for more information on the Renault-Nissan Alliance. http://www.nissan-global.com/EN/COMPANY/PROFILE/ALLIANCE/RENAULT01/index.html Alliance Objectives The Alliance pursues a strategy of profitable growth with three objectives: 1. To be recognized by customers as being among the best three automotive groups in the quality and value of its products and services in each region and market segment 2.
    [Show full text]
  • General Motor's CAMI Assembly Plant Celebrates Production of Five
    News General Motor’s CAMI Assembly Plant Celebrates Production of Five Millionth Vehicle INGERSOLL, Ont. (May 15, 2018) — Today CAMI Assembly employees had five million reasons to celebrate as they marked the production of their five millionth vehicle, a 2018 Chevrolet Equinox at the Ingersoll, Ont. assembly plant. Employees celebrated across all three-shifts as the landmark vehicle made its way through the plant. CAMI employees will be given the opportunity to purchase the Cajun red 2018 Chevrolet Equinox LT AWD through the local dealership, Searles Motor Products. Building world-class vehicles since April 1, 1989, the plant was originally established as CAMI Automotive Inc. – a joint venture with Suzuki Motor Corporation. During the early production years, CAMI produced models for both Chevrolet and Suzuki. In 2011, the joint-venture partnership with Suzuki Motor Corporation came to an end and the plant became a fully-owned entity of General Motors, which is now known as CAMI Assembly. As a result of a C$800 million investment, CAMI Assembly has been producing the current-generation Chevrolet Equinox since January 2017. The Chevrolet Equinox is a fresh and modern compact SUV, perfect for exploring our country and living the Canadian Dream. The Equinox features an expressive design, increased cargo space, the latest connectivity, an expanded roster of available safety features and an all-new range of turbocharged engines — including the segment’s first turbo-diesel. The Canadian-built Equinox launched with great success into the heart of the compact SUV market, the best performing segment in Canada, providing Chevrolet with the newest and broadest lineup of crossovers and SUVs.
    [Show full text]
  • Sustainability Report of Nissan's Subsidiaries in China
    Sustainability Report of Nissan’s Subsidiaries in China About This Report Period Covered Reliability Assurance From January 1, 2017 to December 31, 2017. In order to improve data comparability, part of contents Nissan’s subsidiaries in China ensure that the materials disclosed in this Report are authentic and reliable is beyond this period. and that no false record, major omission or misleading statement is contained herein. Organizational Scope This Report covers Nissan (China) Investment Co., Ltd. (hereinafter referred to as “NCIC”), Nissan’s Report Preparation Process wholly-owned subsidiary in China; Dongfeng Motor Co., Ltd. (hereinafter referred to as “DFL”), Nissan’s joint venture in China, and Dongfeng Nissan Passenger Vehicle Company (hereinafter referred to as"DFN"), DFL’s subsidiary in charge of the passenger vehicle business; Zhengzhou Nissan Initial Report Content Design Feedback Automobile Co., Ltd. (hereinafter referred to as “ZNA”), also a joint venture of Nissan; and Dongfeng Preparation Writing Review Release and Plan Infiniti Motor Co., Ltd. (hereinafter referred to as “DFI”), a wholly-owned subsidiary of DFL. In this Report, “Nissan’s subsidiaries in China” refer to the companies above in general, and “Nissan” refers to Nissan Motor Corporation. ● Establishment of the ● Confirmation of report ● Confirmation of report ● Formation of report ● Collection of feedback from workgroup framework and content contents design draft stakeholders ● Peer benchmarking ● Report preparation ● Senior review of report ● Report release ● Adjustment and optimization analysis contents of further work plan Reporting Cycle ● Information collection ● Third-party assessment As an annual report, this Report is the first sustainability report released by Nissan Motor Corporation report in China.
    [Show full text]
  • Joint Ventures & Strategic Alliances
    13/08/2019 Joint Ventures • A joint venture (JV) is a business arrangement in which two or more parties agree to pool their resources for the purpose of accomplishing a specific task or economic activity togther. Joint Ventures & JV Agreement • Regardless of the legal structure used for the JV, the most Strategic Alliances important document will be the JV agreement that sets out all of the partners' rights and obligations. • The objectives of the JV, the initial contributions of the partners, the day-to-day operations and the right to the profits (and responsibility for losses) of the JV are all set out in this document. It is important to draft it with care, to avoid litigation down the road. PGDBFS 202 (FSG) 1 PGDBFS 202 (FSG) 2 Difference Between Mergers and Joint Ventures Famous JV • When two firms merge, they cease to exist as • Microsoft and GE Joint Venture, Caradigm independent firms. A new and separate legal entity 2011, Microsoft Corporation and General Electric formed a joint venture which controlling the assets of both firms is a health IT company of its own kind. i.e “ A” Ltd & “ B” Ltd merge together as “AB” Ltd. • The Hisun-Pfizer Joint Venture After, “ A” Ltd or “ B” Ltd no longer to be exist. The world’s largest drug company, Pfizer, and a Chinese pharmaceutical company, Zhejiang Hisun, formed a joint company in the Chinese city of Hang Zhou • in a joint venture, a new separate firm is formed, but the original companies continue to exist on their own. • Chery Jaguar Land Rover Automotive Company.
    [Show full text]
  • Commercial Vehicle Joint Venture in China Goes Into Operation
    Press release Munich, 06.05.2015 Commercial vehicle joint venture in China goes into operation The joint venture between Knorr-Bremse and Dongfeng Motor Group Co. Ltd. has got off to a perfect start with its grand opening. The partnership represents a stra- tegic milestone for Knorr-Bremse to strengthen its profile in the Chinese com- mercial vehicle market. Both partners will benefit equally from their collaboration, as they are creating the basis for further growth in the Asian commercial vehicle market: Knorr-Bremse is the world’s leading manufacturer of commercial vehicle braking systems, Dongfeng is the biggest Chinese truck manufacturer. Based in Shiyan in the Chinese province of Hubei, some 1,000 km to the west of Shanghai, the new joint venture Knorr-Bremse DETC Commer- cial Vehicle Braking Technology Co., Ltd. has a workforce of some 460 employees. “We are going to do our best to meet the needs of customers in the expanding, techno- logically evolving Chinese commercial vehicle market. Dongfeng and Knorr-Bremse complement each other perfectly,” explains Klaus Deller, CEO of Knorr-Bremse. “Knorr- Bremse can contribute its extensive product expertise, and DETC has in-depth knowledge of the market. Together we aim to further develop braking technologies for the Chinese market and in the medium term make the joint venture one of the leading suppliers for the commercial vehicle industry in China,” says Hinrich J. Woebcken, member of the Executive Board of Knorr-Bremse responsible for the Commercial Vehi- cle Systems division. This close collaboration will enable us to develop the market more rapidly and more effectively,” adds Baoping Xu, President of Knorr-Bremse Commercial Vehicle Systems in China.
    [Show full text]
  • Ford Motor Company Posts Record Annual Sales in China; Sales Rise 14% to 1.27 Million; Lincoln Demand Surges 180%
    2017-1-6 | Shanghai Ford Motor Company Posts Record Annual Sales in China; Sales Rise 14% to 1.27 Million; Lincoln Demand Surges 180% • Ford Motor Company sold a record 1.27 million vehicles in 2016 in China, up 14 percent • Changan Ford JV sold 957,495 vehicles in 2016; December sales total 115,654 vehicles • Jiangling Motor Corp. sold 265,056 vehicles in 2016; December sales total 32,193 vehicles • Lincoln sold 32,558 vehicles in 2016, nearly three-fold increase over 2015 SHANGHAI,Jan. 4, 2017-- Ford Motor Company sales surged 23 percent in China in December, capping a record year for the automaker in the world’s largest new vehicle market. For all of 2016, Ford Motor Company sales totaled a best-ever 1.27 million vehicles, 14 percent higher than 2015. That total includes sales by joint ventures Changan Ford Automobile and Jiangling Motors Corporation, sales of Ford models imported to China and Lincoln, which has become the fastest growing luxury brand in China. In December alone, Ford and its joint ventures sold nearly 150,000 vehicles in China, up 21 percent over 2015. The growth was driven by strong demand for Ford’s expanded lineup of SUVs such as the Ford Edge and Explorer, the Ford Taurus large car, and performance vehicles such as the Ford Mustang. “We have built some great sales momentum in China, particularly in the second half of 2016, on the strength of our expanded vehicle lineup,” said Peter Fleet, vice president of Marketing, Sales and Service, Asia Pacific. “Record numbers of customers are choosing our 3-row Edge crossover, elegant Taurus sedan, Explorer premium SUV and Lincoln luxury vehicles.” Changan Ford Automobile, Ford's passenger car joint venture, broke both annual and December sales records.
    [Show full text]
  • Chongqing Changan Automobile Company Limited 2019 Semi-Annual Report
    Chongqing Changan Automobile Company Limited 2019 Semi-annual Report Chongqing Changan Automobile Company Limited 2019 Semi-annual Report August 2019 Chongqing Changan Automobile Company Limited 2019 Semi-annual Report Chapter 1 Important Notice, Contents, and Definitions The Board of Directors, the Board of Supervisors, Directors, Supervisors and Senior Executives of the company hereby guarantee that no false or misleading statement or major omission was made to the materials in this report and that they will assume all the responsibilities, individually and jointly, for the trueness, accuracy and completeness of the contents of this report. All the directors attended the board meeting for reviewing the semi-annual report. For the first half of 2019, the Company has no plans of cash dividend, no bonus shares and no share converted from capital reserve. The Chairman of the Board Zhang Baolin, the Chief Financial Officer Zhang Deyong and the responsible person of the accounting institution (Accountant in charge) Chen Jianfeng hereby declare that the Financial Statements enclosed in this annual report are true, accurate and complete. The prospective description regarding future business plan and development strategy in this report does not constitute virtual commitment. The investors shall pay attention to the risk. The report shall be presented in both Chinese and English, and should there be any conflicting understanding of the text, the Chinese version shall prevail. 1 Chongqing Changan Automobile Company Limited 2019 Semi-annual Report CONTENTS Chapter 1 Important Notice, Contents, and Definitions ............................................. 1 Chapter 2 Company Profile & Main Financial Indexes ............................................. 4 Chapter 3 Analysis of Main Business ........................................................................ 8 Chapter 4 Business Discussion and Analysis ..........................................................
    [Show full text]